"For Nicky Shields, the current gold rally, which saw prices virtually "explode in recent months," is an indication of "very little trust in the system." "There is less trust in government, less trust in the functioning of society," the head of Precious Metals Investment Strategy at MKS PAMP Group told DW. Now, the emerging question, she added, was whether the relatively small gold fund market could absorb the current flood of capital."
"Based in Geneva, MKS PAMP Group is one of the most influential players in the global precious metals industry. It processes gold, silver, and platinum into bars, coins, and products for jewelry and industrial companies, and offers investment products for both institutional and private investors. According to the World Gold Council, global assets under management in so-called gold exchange-traded funds (ETFs) rose from $472 billion (407 billion) in September to $503 billion in October a 6% increase."
Nicky Shields interprets the recent sharp gold rally as evidence of very little trust in the system, including reduced trust in government and societal functioning. She questions whether the relatively small gold fund market can absorb the current flood of capital. MKS PAMP Group, based in Geneva, refines and processes gold, silver and platinum into bars, coins and products for jewelry and industry and offers investment products to institutional and private investors. Physically backed gold ETFs saw assets rise from $472 billion in September to $503 billion in October, with October inflows of $8.2 billion and a record $26 billion in Q3 2025. North American investors led with $16.1 billion and European funds recorded $8.2 billion. Gold ETFs track gold prices without requiring investors to store physical bars, are often backed by physical gold in vaults, and consist solely of gold, so they do not diversify risk across multiple assets.
Read at www.dw.com
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